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is not falling. the lower spending and limited government sequester will help grow the economy not harm it. and guess what today? president obama actually dialed up republican leaders john boehner and mitch mcconnell to talk about the sequester. this is good. it's called communication. we'll have a full report coming up from our man in washington robert costa. remember how we told the other night about how federal workers are still getting pay raises despite a so-called pay freeze? it turns out federal worker pensions are facing huge unfunded liabilities that could bankrupt them and force a new taxpayer bailout. but on the whole, folks, have no fear, america. help is on the way. this is "the kudlow report" and it starts right now. >>> all right. first up tonight the sky is not falling. even the president's own press secretary backed up president obama's sequester threat of mass layoffs. take a listen to jay carney. >> we agree with the consensus estimates here again from private outside economic firms from the congressional budget office that say we would lose, the country would lose up to
or j.p. morgan and other billing banks drive our economy off after cliff again, well all pay the price. >> i guess would he argue he is one of the people this who wasn't driving the economy off the cliff at one of the worst moments so maybe he deserves more credit. let me ask you, they have a lead director. you're not satisfied with that? >> no. none of the shareholders are in the board room. and jamie dimon is the chair. he sit at the head of the table, i would think, or whatever the chair sits. he is running that meeting. >> you know, jamie dimon is in charge of the board setting his compensation. >> when you argue with goldman sachs about the issue, they bow to pressure from your organization and put in a lead director and you seem satisfied with that at the time. so why isn't that satisfied by j.p. morgan? >> we were satisfied as an interim measure and we need the large financial institutions that wrecked our economy to do better. >> are you going to continue with j.p. morgan or -- >> there are other share holders who have taken up that mantle this year. >> do you have any empirica
trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. >> at 20 minutes past the hour, i have your fox news minute. a south african judge has allowed oscar pistorious to go free on $113,000 bail. the track star is charged with the murder of his girlfriend on valentine's day. oscar pistorious says he shot the model accident late thinking she was a intruder in his house. prosecutors say it was premeditated murder. a fire department official says only the flight team was on board the chopper when it went down. it was heading to pick up a patient 70 miles away. cuban president has raised the possibility of retiring, but did not say when he may make that decision. the 82-year-old leader made the comment in savanna. those are your headlines on the fox business network. back to ashley. ashley: all right. thank you very much. shibani: representatives from boeing meeting with the faa today. solutions for the battery fires that have grounded the 7873 minor. peter barnes is in washington. peter: top boeing executives are expected to propose a new design for
/bowles a serious plan. tonight i'll expose how it's seriously going to kill the economy. liberals, hold your ground. this is "the ed show." let's get to work. >> are you willing to see a bunch of first responders lose their job because you want to protect some special interest tax loophole? >> the president takes his case to the people as the two salesmen for republican austerity are mobbed by protesters. >> pay your share of taxes. >> pay your tax. >> tonight, "time's" michael grunwald, jonathan alter and katrina vanden heuvel on how to dismantle the austerity bomb. >> 10,000 bucks? >>> the godfather of the conservative movement offers romney pocket change to anyone who can save the republican party. i'll show you why it's a lost cause. >>> plus, a virginia pizza shop owner uses a sick promotion to sell pies and push the nra agenda. >>> the beltway press takes their eye off the ball, complaining about bohm and tiger woods. the least popular senator is desperately attacking ashley judd. and david corn, the co-author of "hubris" and co-author of the msnbc documentary tells me what was left out. >> i
people civilians working, and all of the defense contractors, our economy is based a lot on the prau fits of defense contractors, and they will get wiped out we are told, many of they will will. so it's a huge problem. if it goes for a couple days or maybe a week, they think they can work their way out and there are all kinds of new plans. the democrats want to end employment and tax benefits for the wealthy, and the republicans are against anything with a tax on it, and they are strictly for cuts, and there's no sign of any kind of a compromise. >> and there was an interesting statement, and the fact that the greatest threat to national security is budget uncertainty, and this is an example that if this thing goes through, it's going to hurt a lot, and especially in northern virginia. >> not just northern virginia, we're talking about the washington region. >> and the number of people who will be laid off, and two, not hired because you can't hire if you don't have a budget to do it, and then take into account that a lot of universities and hospitals here get grants to study, the impact
's economy. at dot, we will need to cut nearly a billion dollars, which will affect dozens of our programs. over $600 million of these cuts will need to come from the federal aviation administration, the agency that controls and manages our nation's skies. as a result of these cuts, the vast majority of faa's nearly 47,000 employees will be furloughed for approximately one day per pay period until the end of the fiscal year, and in some cases it could be as many as two days. today we are sharing more details with our unions and with industry so they can start planning for serious impacts of sequester. here is what these automatic cuts are going to mean for the traveling public. obviously, as always, safety is our top priority, and we will never allow the amount of air travel we can handle safely to take off and land, which means travelers should expect delays. flights to major cities like new york, chicago, and san francisco and others could experience delays of up to 90 minutes during peak hours because we have fewer controllers on staff. delays in these major airports will ripple across
and to our economy. cbp would have to furlough all of its employees reduce overtime, and eliminate hiring to back-fill positions. >> michael: in all, homeland security would lose 5,000 agents. that is a big deal. next up, gun control. the president wants universal background checks but a sequester would make such a system difficult to enact would it would mean cuts in agents and federal attorneys. and then there is education. the president has called for universal preschooling but the sequester would slash $400 million from head start and that means nearly 63,000 children would be dropped from the program. the republicans outlook seems to be, if we can break the economy now, we have bought the presidency in 2016. joining me now is juana summers, she comes to us from washington, d.c. welcome back inside "the war room." >> thanks for having me back. >> michael: so how damaging actually will these cuts be to the president's second term agenda. >> it's important to note when you talk about sequestration it touches every part of the american economy, big prior advertise t
misconception that he land immediately afterwards. this assumption was that the economy would continue to improve or would improve. i think running and losing in 2008 was liberating for him. he found that he could be happy. week at talking -- we kept talking. he wanted to talk about it. we had a busy 2010 client schedule shoul. he finally said, on election day 2010, if you cannot do anything for your client, why don't we meet? ok. we can do that. my partner and i met him. we met him in boston. that was when i got a sense that he was intending to run. >> he was serious? and he made the decision? >> yet. >> covering -- yeah. >> covering the white house, he always viewed mitt romney is the face of the republican party. is that unfair? >> no. after the 2008 election, we were thinking about the future. he asked me who i thought the nominee would be in 20 20. i said, mitt romney. i knew we were heading into an economic maelstrom. i spoke earlier to a group about this opposites theory of presidential races. romney and the business background seem like the kind of person who could emerge from
now, a tremor will hit the american economy that is both unwelcome and unnecessary. it is an across-the-board cut in spending that, according to some estimates, will cost us 750,000 american jobs. as we will hear today, there are some estimates that that is too conservative. if one takes into account the ripple effects of the tremor, it may cost us many more jobs than that, but even by the most conservative estimates, 750,000 americans who worked in contract in firms, research companies, universities, hospitals, child care centers, schools, businesses small and large around the country, and who work for the government itself, will find themselves and their country at risk. this does not need to happen. led by my friend and colleague from whom we will hear in a little while about the specifics, we put forward a constructive, common-since alternative to avoid these 750,000 layoffs. the alternative, frankly, involves closing tax loopholes that the wealthiest among us can exploit and take advantage of, and stopping mindless subsidies to huge oil companies and agribusinesses. it makes se
last year was. we're about probably 15 more units ahead in what we did last year. i can see the economy is coming back. >> they say that sales are typically brisk on presidents' day because of dealer discounts. a lot of car dealerships use the holiday to launch their spring lines. >>> on the heels of that warm spring-like weather we enjoyed over the weekend, winter has returned for the bay area. prepare yourself for cold and rain as you head out the door. up next. steve paulson is tracking the storm. >>> a very unique dog saves the day. how she was able to pull her owners to safety from a burning house. >>> we're looking at the seen of an injury clash was just cleared and did a little damage to the center divide there on northbound 280 in daly city. we'll tell you how the traffic is still unwinding and what you can do to get around it. mom, i invited justin over for lunch. good. no, not good. he's a vegetarian and he's going to be here in 20 minutes! [ mom ] don't stress. we can figure this out. ♪ [ male announcer ] get the speed to make a great first impression. call today to get u-v
, the strength of our economy, the strength of our moral example, after balance those things. this university has been educating and training people to understand that balance since its very beginning. i spoke this morning with a whole group of very talented young rotc students, many who are getting ready to graduate in commission on the three programs operating on the status. -- on this campus. the university has put 1079 people into the peace corps in its 51 year history. numerous people over the course of the university history have gone to work in the state department's. then we can go broader, teach for america, or the students who have trained over generations to get jag program degrees, military law degrees here. this university is so committed to that global role that we are supposed to play as citizens and to keeping those balances of strength and balance. there's really no one today on this stage in our country where exemplifies keeping those invalid better than our speaker. we're so glad to welcome here to the ground and to the commonwealth. please give a warm welcome to secretary john
we all lived when the floor fell out of the 2008 economy. that was the detroit represented by the three big auto manufacturers whose failure would have symbolized to many of us the very failure of america, and that detroit as the obama for america campaign reminded us repeatedly, is now very much alive and kicking. but that detroit, the detroit we all want to see survive, exists in the entire country, not within any specific municipal bounds. then there is the literal detroit, the one where people live, the renaissance city founded initially in 1701. once it was a hub for mechanical manufacturing and detroit in the mid 20th century was a magnet for those looking for work. the city's population grew to more than 1.8 million residents in the 1950s. today, according to the latest census, detroit is the only -- the country's 18th largest city with just more than 700,000 inhabitants, for a city that covers almost 139 square miles. a space that san francisco, boston and manhattan could fit in with room to spare. there are so many factors contributing to the city's financial distr
to slow the rate of growth on a per capital ya basis to the rate of growth of the economy. in our opinion, that takes about $600 billion to do over a ten-year period. and it does such things as paying for incentives go to pay for quality rather than quantity. it has real cost sharing in there. it happens has mean testing. it has appropriate saving in there in order to take account of, you know, the aging of the population. >> not premium support or vouchers? >> no. we don't think that's something you have to go to in addition to slow the rate of growth to the rate of growth on the economy on a per capital basis. >> simon. >> i just wonder what you and your guests think about whether the ground is shifting on actually getting a deal, on getting something into law. in 45 minutes' time, president obama is going to attempt to pitch the jobs for firefighters over the sequester against further taxing of the rich. he clearly feels that he has greater political freedom in his second term. he has this huge organization attempt to go mobilize outside the beltway and the gop seems very divided. is t
that will spur a new american economy that is focused again on making and innovating and growing and manufacturing and exporting. the long-term security and absolutely dependent on managing these risks we have identified today. it is that important for this country. you all can help. one man who understands this better than most is tom daschle. i can say a lot of things about tom daschle. i can talk about his military career in the air force. i can talk about his service in the house of representatives and his extraordinary leadership in the senate. the only person to serve as a majority and minority leader. i have said a lot about this man in terms of what his counterparts thought of him. i prefer to talk about tom daschle the father and grandfather. i think you can tell the measure of a man or a woman by the children. tom has got three great kids. i had the pleasure of knowing all of them. his daughter is an award- winning journalist. his son nathan is a social entrepreneur. his daughter lindsay, my favorite -- he cannot say that -- works at usda. she did an extraordinary job o
continues to face very large economic and budget challenges. let me discuss the economy first, and then i'll turn to the budget. we anticipate that economic growth will remain slow this year because the gradual improvement that we've seen underlying economic factors will be offset by a tightening of federal fiscal policy scheduleed under current law. the good news is the effects of the housing and financial crisis appear to be finally, gradually, fading. we expect that an upswing in housing construction, rising real estate and stock prices and increasing availability of credit will help to spur a virtuous to cycle of faster growth in employment, income, consumer spending and business investment during the next few years. however, several policies that will help to bring down the budget deficit will represent a drag on economic activity this year. the expiration of the two percentage point cut in the social security payroll tax, the increase in tax rates on income above certain thresholds and the cuts in federal spending kennelinged to take effect -- scheduled to take effect next month wil
laid out for republicans. it's not just the economy that will suffer from the looming cuts next week. that's march 1st. national security will as well and it's seriously at risk. >> already the threat of these cuts has forced the navy to delay an aircraft carrier that was supposed to deploy to the persian gulf, and as our military leaders have made clear, changes like this, not well thought through, not phased in properly, changes like this affect our ability to respond to threats in unstable parts of the world. >> governor rendell, i just wonder what you think would be the situation, the scenario, if it comes to this. we pick up our paper some day and the newspaper said, carrier group can't make it to persian gulf for lack of funding. i mean, i just wonder if we're ready to face something -- i don't think we ever faced that in world war ii, in korea, in vietnam. we're unable to fight the wars we're in. >> chris, overall it's an incredibly bad situation for the country, and we can argue over who deserves the blame for this, and there's probably blame to go around, but right now the r
the u.s. economy will grow slowly this year as tax increases and spending cuts offset improvements in the private sector. bruce willis is "a good day to die hard" pulled in $25 million. "identity thief" rant and with a close second, 23.4 million. that is the latest from the fox business network. giving you the power to prosper. ♪ customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. ♪ dagen: $101.7 billion over the next ten years. the joint committee think this is the cost of a massive new sales tax to pay for obamacare. elizabeth macdonald is here with the bottom line. explain how this is, ultimately, being passed on. >> it is an excise tax or sales tax. look at this number. $7200. health insurers will pass this on. look at this. joint committee and taxation think that health insurers will pass this on. expect it to hit the insurance, basically, consumer in the form of higher premiums. they estimate 2.5% greater cost. we have two congressmen looking
that affected agriculture this year. despite the drought, i think the aggie economy -- ag economy is very strong. far income, near record highs. a record high for 2012, and four 2000 13, projected cash income close to record highs. -- and for 2013, projected cash income close to record highs. low debt to asset ratio. assets at record highs. however, i think the aggregate measures belies some sharp differences between sect hers. -- sectors. despite the adverse weather, producers have fared well, with high prices and record crop insurance indemnity's, which helped offset the losses we saw this year. if you are in uninsured or underinsured former, -- farmer, crop losses are hitting those producers a little more than those who have insurance. and if you are a livestock, dairy, and poultry producer, this is the third year since 2007 when we have seen record high prices, with the effects that has on higher feed costs, tight margins. and we have seen, particularly on the capital side, some liquidation. -- the cattle side, some liquidation. 2013, we were expecting a rebound in yields. we should
there are more significant. we need a transition to -- there are major economies going and the direction of low carbon. we are pushing the us to go in that direction. there is opportunity for canada to diversify its economy and become low carbon. and europe, they're looking at a directive. there is an opportunity i think to view the developments. is this a momentous change that we are looking at to start driving this? what does that mean for that relationship? i think the economic growth and the job opportunities are much bigger and greater than where we would find the fossil fuels sector. >> rupert murdoch, the guy who owns fox news and the wall street journal, he tweeted against of a keystone and said that we do not need. we have cleaner, natural gas from phrack inc.. -- fracking. what is the implication of this domestic boom? what crowd out the need for energy from canada? what does it mean that the u.s. is talking about being energy independent? >> it was separated into two areas. natural gas and homes. we are looking at surpluses. to say whether it will crowd canadian gas out of the u.s. m
're going to cut everything right now, sequestration. it's going to slow down the economy. you've got democrats -- you've got the president running around because he only knows how to do one thing, ask for higher taxes. he's leading with the taxes. we've got to raise more taxes. it's the rich, it's the corporations, tax, tax, tax. i thought we had this debate before. democrats don't seem to understand that taxing americans dampens the economy, hurts small businesses, hurts a lot of americans. republicans don't seem to understand that massive unfocused cuts right now are going to slow down the economy and hurt americans, too. >> you seriously have to wonder whether anyone in washington, in the house, in the senate, in the white house, in the administration, republican, democrat, do they ever go outdoors? do they ever see what happens every day to ordinary americans? people who have been getting crushed economically for the past 10 or 15 years are now getting crushed again, doubly so. the payroll tax has been eliminated. have you checked out the price of gasoline over the past couple of
harming our economy. but congress has to act. >> reporter: the white house wants a plan with smaller spending cuts and more tax revenues. republicans say the government is already too bloated and higher taxes should not be part of this equation. the budget expert says the automatic cuts will hurt the economy, even though most government agencies should be able to weather them. >> most organizations can manage a cut of 5%, 7% in their budget without long-term harm. i don't mean it won't be painful. it will be. >> reporter: allen simpson and erskine bowls who led a commission on the debt say it will be painful for lawmakers as voters start feeling the effects like longer lines at the airports. >> when that happens, they're going to come back to congress and say we're sick of this intrancyin intransigence intransigence, let's do something smart. >> reporter: they'll only have a few days when they return next week. danielle nottingham, cbs news, the white house. >>> on the "cbs moneywatch" now, going on the offensive against cyber attacks, and apple gets bitten by
in this town is a mind game. this is a diversion to keep you off the thought of this poor economy which generates crime. this is about crime and is trying to divert your attention away from it because they cannot create jobs. i have two quotes from people who know what they're talking about. bruce weinberg, ohio state university -- but officials can pass tougher citizen laws and take other steps to reduce crime but there are limits to how much these can do. we found that a badly premarket has a profound impact on the crime rates -- that a bad labor market has a profound impact on the crime rates. this causes more unemployment a spiral situation from which it is difficult to recover. what we need to do is create jobs, businesses. small businesses create less crime. though i walk through the valley of the shadow of death, i fear no evil because i am the meanest and fiercest person walking into the valley.[laughter] >> thank you. and a reminder of the los angeles riot.i was actually there during that time as well. you are absolutely right. that is what we saw. you are right, that most of t
are digging in their heels. you know what? the economy is going to go in the toilet. >> announcer: this is the "bill press show." >> jack, how old are you? >> nine. >> this is what 27 tons of marijuana looks like. (vo) with award winning documentaries that take you inside the headlines, way inside. (vo) from the underworld, to the world of privilege. >> everyone in michael jackson's life was out to use him. (vo) no one brings you more documentaries that are real, gripping, current. >> announcer: chatting with you live at this is the "bill press show." live on your radio and current tv. >> bill: hey it is 33 minutes after the hour here on a thursday morning. and vice president joe biden says you want a gun? get a shotgun. not an ar-15. we've got it all covered here this morning on the "full court press." we're talking about the fact that republicans still seem determined they really think they can let the sequester happen, let the economy go as the congressional office warns into a total tailspin, reverse our economic recovery, cut 700,000 jobs here in this co
the sequester could really have on the economy if no deal is reached before the deadline. chief congressional correspondent mike emanuel is live in washington with this. mike, what is the practical impact the real impact that many of us would feel from se sequestration? >> the automatic cuts are half domestic, after defense. he tkpepding on your interaction with the government, if you work or do business with the government you may be affected more. today the agriculture secretary raised the impact on the food on our tables. >> the only way we can absorb a cut of this magnitude is by impacting the people who work in the food safety area of usda, and we all know that when we do that it doesn't just impact those workers, it impacts all the processing facilities and plants and proceed tucks facilities across the country. >> reporter: the suggestion being that could lead to restaurants and supermarkets struggling to stay stocked with properly inspected food, jenna. jenna: that certainly hits home. we've hoard from republicans and democrats how drastic of an impact this might be in a whole slew of
. this is "the bill press show." one week, one week to go before the sequester kicks in and this economy goes into a tailspin. thank you, john boehner. what do you say, everybody? guess what. it's a fred. ♪ alleluia. ♪ >> damn straight friday february 22nd. ♪ alleluia. >> bill: and we love fridays here at the bill press show. ♪ alleluia. ♪ >> bill: i am sure you do as well. for some of you, a short week for you rest of us we are taking a look at the big stories of the day and giving you a chance to sound off and tell us what you think about it. 866-55-press is our toll-free number. congress comes back in session next week. they don't come back until tuesday. the sequester kicks in until friday. we will see if they can get anything done. i doubt it very very much in those three days that they are here. they like the sequester. they want it to happen. they want employees to lose their job at the pentagon. they want the economy to go in a tailspin. they want headstart and the pel grants and tsa and air traffic controllers and you name it acros
coming from china are having devastating consequences on the u.s. economy. in short, u.s. investigators are accused china of economic espionage, of stealing research and design. this allows them to compete without stealing billions on innovation and product development. if this is true, americans should care because it's costing them countless jobs. they are calling this the biggest transfer of wealth in history. >> we saw one of a cyber pearl harbor. and the white house is preparing to take action. >> reporter: this week, they are announcing plans to help private companies in identifying and mitigating such attacks, george. >>> we're going to go to the white house, where president obama will appear later this morning, to warn against the next budget crisis that's coming fast. automatic spending cuts to hit every government program in just ten days. abc's jon karl has more on what we expect to hear from the president. good morning, jon. he's going to ratchet up the pressure on congress. >> reporter: he sure is. he's trying to shame congress to do something to replace the cuts. and this
and gas domestically which was a clear message is not against the carbon economy per se. he has to deliver something. >> on that we will have to have our closing statements. we apologize to jump been waiting at the microphone we didn't get to you. a couple minutes. tall, do you want to start? >> sure. a decision on keystone on any large issue made on practical and tactical grounds but also, we seen the play of symbolism. daniel is very good that same keystone represent the equivalent of 6 million new cars on american highways, an army of new cars engaging america. and the ambassador was very diligent about saying this is an excellent chance to reach and a 6 million cars and take the venezuelan out and put good oil win. and so that is the symbolic background against president obama has a decision to make. coming from ottawa as a good, i often am reminded, i often say to candidates, it's the chicken come home to roost. stephen harper has spent his entire career as prime minister beating environmentalists. he ran against an environment was in 2008. he made up a carbon tax and 2011 so he could
to the economy, but people start hearing, layoffs will, uh, people will see less money in their medicare payments to doctors. as these real-world costs hit, it will be interesting, and likely what drives the eventual deal will be with the political pressure lands on. host: can you walk us through the next six or seven days? as you indicated, the president traveling to norfolk, virginia, an area have the with pentagon contracts and military construction and the navy shipyards. what are you looking for? guest: the most interesting things will be the votes in the house and senate. if democrats are able to win over a number of republicans to get a compromise through, that would really upset the equation. it would be very much unexpected. that is maybe our one chance to avert the sequester. more likely, it will be a vote were democrats -- where democrats put forward a plan but fails. then you'll see a lot of finger- pointing from both sides, with republican saying, democrats could not pass of planned. the democrats will say, republicans are the ones who blocked our compromise to be in the senate. -- p
constituents and to the economies of our states. and when barriers present a significant segment of our population from participating in the workforce, talent is being wasted and our economic competitiveness suffers. and for individuals with disabilities, employment outcomes have not improved since 1990. during the recent recession, employment realities for people with disabilities got even worse. workers with disabilities left the workforce as five times the average rate. the median income for these workers is less than two thirds the median wages for other workers. so that is why i chose this initiative, building a better bottom line, employing people with disabilities. we can do better and we must do better. an estimated 55 million americans -- one in five -- has a disability. it's the largest minority population in our country and disability crosses every demographic and it's the one minority population that any one of us could fall into on any day. anybody who can work and wants to work should have the opportunity to do so. advancing employment opportunities for individuals with di
might help grow the economy. the government's interest is to provide domestic security, and, we, as representatives are charged with safeguarding the public's interest and protecting civil liberties. developing and effective regulatory frame work could be the process, but this hearing is one step towards ensuring this is happening in a timely and effective manner. it is our responsibility, and we don't take it lightly, to ensure the need for oversight and have proper procedures created and federal agencies meet the timelines to address the rapid emergence of the uas systems in our national air space. that's why, i again, compliment the chairman. thank you for the leadership in calling the hearing today. i want to thank the witnesses, and i look forward to your testimony. thank you very much, mr. chairman. >> mr. maffet, thank you so much. i look forward to working with you as we go forward in the congress, and from your statements, i can tell you and i will be close colleagues protecting civil liberties and privacy issues because those issues are extremely pont to me and -- impo
to do with a rotten economy. older adults are staying in the work force longer any younger adults staying out of the work force longer because they cannot get into it. host: if you don't have a retirement, there is this option -- norman is joining us from maryland, 45 years old. how much have you saved so far for your retirement? caller: first, thanks for having an article on this subject. i have been waiting for this opportunity. i have $2,800 in my 401k plan. i am wanting your opinion for people my age. i was born in 1968. it seems we are at the tail end of the pension plans and profit- sharing and at the front end of all the financial crises in the country. people my age, it seems we were never able told the 10% we were told, the city to hold 10% your entire working life for your retirement. between jobs and layoffs -- and i have always been fortunate to make as much as college graduates, but between the jobs and layoffs throughout my work life and the clinton era taxes and everything -- i'm not blaming him, i thought he was a good president even though i am a republican, i jus
the jobs that depend on them? or would they rather put hundreds of thousands of jobs and our entire economy at risk just for protect a few special interest tax loopholes that benefit only the wealthiest americans? that's the choice. >> when folks here that at home, lois, is this something that boils down to republicans being seens the losers. when you got americans, workings folks, standing behind the president in this bully pulpit forum. we don't expect to have a press conference tomorrow with teachers behind him saying i'm okay with losing my job? >> that's right. the president and the white house have done a very effective job in framing this. you know, his speech this morning was really, the sky is falling. the sky is falling. prisoners are going to be let free. the borders aren't going to be protected. you know, you're going to be in danger flying. and the reality might not quite be as dire because 30 days after the sequestration goes in, there's something called the continuing resolution where all this money goes back into a big pool and it can be shifted and used in all manner of thi
it will affect the economy, middle- class, and the small business. if a deal is not reached by march 1 the vast majority of the defense department's 800,000 civilian workers will be furloughed. virginia and maryland are two of five states expected to be hardest hit. it would have a big impact on travel. fewer passengers would use d.c. area airports and fewer people will take vacations this summer. >> today's the day you can start entering the lottery to get tickets for one of the most popular events in d.c. >> the annual white house easter egg roll, the ticket lottery started to cry a.m. this morning and will end on 10:00 february 25. >> in business news, is american or british dates for boeing. >> few americans are spending money now that paychecks are getting smaller. linda bell joins us with those stories and more. >> w know anyone spending less now that our paychecks are a little lighter? the payroll tax cut is leaving 70% of americans to cut back on spending. the national retail federation says many are delaying major purchases on items such as tv sets furniture, and cars. wal-mart is bla
this is a good time for the economy. are you kidding? it is not a great sign for the economy. dell? michael dell try to take back his own company, looking to do some things behind the scenes, but no takeover battle and higher battle. heinz was more of a world deal. not seen the kind of things we're looking for. the market is grappling for things. what i wanted to kind of talk about with the audience is key members on the downside. let's talk about the key support levels. it is a key number that i like to see if we drift on no news, the market to make a stand, the number that must hold the moving average, let's just call it 13,600. if for any reason we get hurt and got out to that level, that is the market must make a stand. certainly want to see the market make a stand. once all the news went away, some form of analysts. would find a way to go up but so far has not been able to find a catalyst. and i'm a little bit nervous on the talks of sequestration. the president yesterday was talking if the white house those things are getting bad and just trying to set up the escape hatch so they cannot bl
to happen. the impact on the economy would be terrible for american families. we don't want it. we think it is bad policy. it was designed to be bad policy. that was the whole point. the sequester was written in a way that would assure that congress would never let it happen. >> by putting it off, it could work to your advantage perhaps? >> i think you're misunderstanding or maybe we're not doing a good enough job trying to convince you. we support efforts in congress to buy down the sequester but they should come back and do it tomorrow or come back next week. buy it down so the sequester does not have an immediate effect and congress can get back to work and we can get that $4 trillion in deficit reduction that analysts have called for. we've been working for that. up to $2.7 trillion in deficit reduction has been achieved thus far. our deficit is coming down but we need to do more work to make sure that process continues. that's what we want, that's what the president wants. >> i have a question about cyber crime among other things. what can we expect? >> i think if you're talking a t
our deficits without harming our economy. but congress has to act. >> reporter: the white house wants a plan with smaller spending cuts and more tax revg news. republicans say the government is already too bloated and higher taxes should not be part of this equation. budget expert isabelle says the automatic cuts will hurt the economy,'ve though most government agencies should be able to weather them. >> most organizations can manage a cut of 5%, 7% in their budget without long-term harm. i don't mean it won't be painful. it will be. >> reporter: allen simpson and erskine bowles says people will start feeling the effects like locker lines at the airports. >> when this happens they're going come back and say we're sick of this intransjens, let's do something smart. >> reporter: they'll only have a few days when they return next week. >>> on the "cbs moneywatch" now, going on the offensive against cyber attacks, and apple gets bitten by a bug. erica ferrari is here with that and more in new york. good morning, erica? >> good morning, anne-marie. tokyo's nikkei gained 1%. hong kong's han
. they will hurt our economy. they will add hundreds of thousands of americans to the unemployment rolls. >> in his state of the union address, president obama himself admitted that these cuts were a really bad idea. what the president failed to mention was that the sequester was his idea. >> the sequester was the president's idea but it was meant for force congress to act because the cuts would be so objectionable to everyone on both sides of the aisle. >>> former congressman jesse jackson, jr. and his wife are expected to plead guilty to federal corruption charges in d.c. the couple is accused of spending more than $507,000 in campaign cash to buy personal luxury items like watches, furs and furniture. jackson resigned from the house of representatives last november. sandy jackson could get up to three years. >>> a possible change to d.c. traffic lights. how it could affect your commute. >> a huge gas explosion rocks an upscale kansas city shopping district. this morning, cadaver dog on the scene. we have an update coming up next.   -- dogs on the scene. 
in a world without rules for years to build our economy up another we are up to the top are try to hamstring them or tie them up with rules and regulations to hold china down. >> keith richburg on 34 years of reporting and insights around the world sunday at 8:00. >> if blockade is the principal naval strategy of the northern states, the principal naval strategy of the seven states is commerce raiding. one gun on a pivot between the masts, if you're going against merchant ships, one is all you need. the idea was, come along side and put a prize crew on board, a ticket to a fort where a judge could adjudicate it. sell it at auction and you have to keep all the money. because it depends entirely on the profit motive, the ship owner paid the men, the ship itself, supply of food. he expects a return on his money. the crew expected prize money. without from the ports where they could be condemned, you cannot be making a profit. therefore, confederate profit- sharing that out almost immediately. it lasted three months are slightly longer. maritime on to print yours found out they could make more m
are not smart, they are not fair, they will hurt our economy, they will add hundreds of thousands of americans to the unemployment roll. people will lose their jobs. the unemployment rate might tick up again. >> cnn chief national correspondent john king is looking at the impact that we can expect from these cuts. >> webster defines sequester as to set apart or segregate. in washington, it's a fancy word for spending cuts. an example of political leaders in both parties are failing to do their most recent job. >> they have doubled down on the cuts i've outlined. >> here's what will happen. $85 billion in federal budget cuts kick in. that's 9% of nondefense spending and 13% of the pentagon budget over the next seven months. what's protected? medicare and social security. so are medicaid and food stamps, military personnel and the v.a. are examined. most federal agencies would make cuts and the white house warns, among other things, furloughs of the fbi, border patrol, and food safety inspections. the president says vital government services would suffer and the economy would weaken. republicans
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